FAQ
How is the reputation score (impact score) calculated?
The impact score is calculated using a detailed methodology outlined in our whitepaper. For a full breakdown, check it out here: How is Impact Score Calculated?. In short, it reflects your contributions and influence within the ecosystem—think of it as a measure of your positive impact!
Can I support projects without donating money?
Yes, absolutely! You can support projects using your impact score alone—no donation required. In fact, someone with a high impact score who doesn’t donate can have a bigger influence than a low-score donor. Every vote matters, so your support always counts!
How do you prevent wealthy donors from controlling voting results with large donations?
Our quadratic voting system makes it tough for wealth to dominate. For example, a $10,000 donation translates to just 100 votes, while a dozen high-impact-score users donating $1 each can easily outvote that. Plus, matching pool funds are capped at a project’s requested amount (which is limited by each round’s maximum). Once a project hits its goal through donations, extra funds don’t boost its allocation. This setup ensures throwing huge sums at a project isn’t a smart or effective way to sway results.
This system sounds complex—how do you make it simple for proposers and voters?
We’ve built the platform to be user-friendly despite the sophisticated math behind it. Proposers get clear guidelines, handy templates, and step-by-step support to submit projects. Voters enjoy an intuitive interface to explore projects, see their impact, and vote with a single click. The complexity stays under the hood—participating feels as easy as supporting your favorite cause!
Are your smart contracts audited by a third party?
Yes, security is a top priority for us. We primarily rely on battle-tested smart contracts from well-established, trusted libraries. For any custom smart contracts we develop, we ensure they undergo rigorous audits by independent third parties to meet the highest industry standards. On top of that, we perform regular internal reviews and maintain an active bug bounty program to keep our systems secure, reliable, and up to date.
What is your platform fee?
To sustain our operations, we deduct a small portion of each donation. Our fee structure is designed to be transparent and incentivize larger contributions:
Transaction Fee: $0.30 per donation
Platform Fee: 12% on all donations, decreasing by 0.5% for every $50 donated
Minimum Fee: 2% for donations of $1,000 or more
This tiered approach ensures that larger donations direct a higher percentage to your chosen cause. It also helps prevent collusion to manipulate voting outcomes. For fiat donations, our payment partner, Stripe, adds a separate 5.6% fee.
How do you prevent collusion?
Collusion occurs when participants secretly cooperate to gain an unfair advantage. We have the following anti-collusion measures:
Reputation incentives that make system integrity valuable to high-impact participants
Penalties including reputation loss or platform bans for collusion attempts
Economic disincentives through fee structures that make vote-splitting unprofitable
What behaviors are prohibited on the platform?
To ensure the integrity and fairness of our voting and funding processes, the following actions are not allowed:
Buying or selling votes: Offering or accepting any form of compensation or incentive in exchange for votes is forbidden.
Creating multiple accounts: Users may not create additional accounts to cast extra votes or manipulate the voting process.
Using automated systems: Employing bots, scripts, or any automated methods to vote is not permitted.
Coercing or threatening others: Any attempt to pressure, intimidate, or unduly influence someone else’s voting decision is prohibited.
Misrepresenting information: Providing false or misleading details about your identity, affiliations, or project to sway votes is not allowed.
Hacking or system manipulation: Attempting to hack, exploit, or tamper with the platform’s systems or voting mechanisms is strictly forbidden.
Colluding with others: Coordinating with individuals or groups to artificially influence voting outcomes, such as vote trading, is prohibited.
Additionally, any other actions that undermine the fairness and transparency of the platform’s processes are also strictly prohibited.
Violations of these policies will be thoroughly investigated using our platform’s security measures. If a dispute arises or a violation is reported, the final decision will be determined through our Decentralized Dispute Resolution Mechanism, ensuring a fair and community-driven resolution process. Learn more about this process in our Whitepaper: Decentralized Dispute Resolution.
Possible outcomes of a resolved dispute may include warnings, account suspension, project removal, or other actions deemed appropriate by the decentralized resolution process, depending on the severity of the offense.
We employ various security measures to detect and prevent such behaviors. If you notice any suspicious activity, please report it to our support team immediately.
Our platform is dedicated to fostering a fair and transparent ecosystem for all users. By adhering to these guidelines, you help maintain a trusted environment for supporting innovative projects.
In what currencies can I receive donations?
Donations on Socious Fund are processed in cryptocurrency. If you choose to receive your funds in crypto, no additional fees will be charged.
However, if you prefer to receive your funds in fiat currency (e.g., USD, EUR, JPY), a 5% conversion fee will apply to cover processing and exchange costs.
What are the requirements on raising funds?
Create a profile and verify your organization
Submit an aligned project - social, environmental, innovation or community development themes such as education, health, environment, economic empowerment
Mobilize supporters to verify and vote
What are voluntary contributions?
To ensure the fund's sustainability, we welcome voluntary contributions to the matching pool for future funding rounds. These contributions can be made in various forms, such as equity, tokens, revenue-share, carbon credits, or other value generated by your project. Contributing voluntarily will significantly improve your chances of receiving funding. Please note that, for for-profit entities, a contribution of shares is a mandatory requirement for funding eligibility.
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